Unfit for humans and sold for almost $900,000

A property not fit for humans and subject to special orders has sold for almost $900,000.

The Adelaide property, which transacted in late June in a majestically-named, premium postcode, is subject to a local council order, due to its state of disrepair.

The once handsome brick bungalow in Colonel Light Gardens sold for $855,000 and is in a multimillion-dollar pocket of Adelaide which is heritage protected and known nationally for its verdant streetscapes.

SOLD - $855,000

505 Goodwood Road, Colonel Light Gardens SA 5041

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“Although some work has been carried out by the owners of the property over the years, its condition can be best described as original with works required to make it livable,” the Domain listing outlines.

“A great opportunity for the handyman/tradesman to invest time and money in a suburb with the median price over $1.1 million.”

Harcourts VennMillar agents John Millar and Sam Owens looked after the campaign.

The deal comes as Adelaide emerges as a hornets’ nest for auction bidding. There are more bidders in the South Australian capital fighting per property than any other city, according to a major national agency.

The Colonel Light Gardens home, built in 1926, is under a Housing Improvement Order, according to the listing, with council information given for any prospective buyers.

The SA government’s Department of Environment and Waters describes Colonel Light Gardens, about 7km south of the CBD,  as “Australia’s most complete example of an early 1900s garden suburb”.

The area was designed to house returned serviceman in bungalows which have been gently and lovingly restored over the decades. Throughout the years, protection against subdivision and intrusive development has kept its original character.

The listing calls Colonel Light Gardens “Adelaide’s garden suburb”, which is “safe from the developers”.

Housing Improvement Orders, under SA law, direct the owner to repair an uninhabitable property to a “reasonable standard” or tear it down, depending on an inspector’s adjudication.

Adelaide’ auction market is abuzz, even during winter.

One home in the suburb of Paralowie, on the books of Ray White, was recently sold after a campaign that attracted 58 registered bidders.

John Morris, Ray White’s chief auctioneer in SA, said there are more buyers than properties available, although there is still fear around the auction method.

The agency’s data shows the number of registered bidders on a home has increased year-on-year from 6.1 to 6.8, and 3.1 to 3.4 (year on year) for active bidders.

“Week after week, Adelaide most frequently boasts the highest registered bidder numbers across Australia, by a country mile. Only a few weeks ago, a house in Paralowie attracted a huge 58 registered bidders,” Morris said in the agency’s fresh report.

“Buyers are still wary of the method, but only because they don’t necessarily understand it. The agents who truly believe in the method are able to make the buyers understand that it is an open, transparent way of buying property rather than a secretive private treaty method in which we are not allowed to divulge to buyers what other buyer’s offers are.”